logo
Plus   Neg
Share
Email

Timken Agrees To Buy BEKA Lubrication For $165 Mln - Quick Facts

Timken Co. (TKR), a world leader in engineered bearings and power transmission products, agreed Monday to acquire German firm BEKA Lubrication, a leading global supplier of automatic lubrication systems, for about $165 million.

The acquisition will expand Timken's global leadership in automatic lubrication systems, making it the world's second largest producer of industrial automatic lubrication systems. It will also diversify Timken's portfolio into adjacent products and markets.

The privately negotiated transaction is subject to regulatory review approval in Germany, and is expected to close during the fourth quarter of 2019. It will be funded with cash and existing debt facilities. Timken expects the transaction to be accretive to earnings in 2020.

BEKA serves a diverse range of industrial sectors including wind, food and beverage, rail, on- and off-highway and other process industries. Its sales are expected to be around $135 million for the full year 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

RELATED NEWS
Follow RTT